Leasing activity in the Romanian industrial and logistics market was up 21% to 360,000 sqm in the first half compared to the same period of last year, driven by relocations and the closing of new contracts, according to a report by real estate consultancy Cushman & Wakefield Echinox.
Bucharest attracted almost 63% of the transactional volume, followed by Sibiu with a 7% share, while Timişoara and Piteşti had 6% each.
“Most developers are active, having ongoing projects, and the companies coming mainly from online retail, distribution and logistics sectors are consolidating their volumes, in an economic context in which the population maintains a high appetite for consumption," says Rodica Târcavu, Partner, Industrial Agency at Cushman & Wakefield Echinox.
The biggest lease deal covering 17,200 sqm was the renewal and expansion contract signed by Romanian retailer Altex in P3 Bucharest A1.
Meanwhile, the biggest delivery in H1 was CTP’s completion of a 70,000 sqm warehouse for Maersk-IB Cargo in Bucharest.
In H1, the total industrial and logistics stock in Romania amounted to 4.7 million sqm, with more than 633,000 sqm in various development stages. New industrial spaces with a total leasable area of 360,300 sqm were completed in the first half of 2021.
